The cheapest gasoline and electricity rates in Latin America

The cheapest electricity in Latin America

Regarding electricity prices, Mexico has the fourth cheapest rate in the region, with a cost of 0.086 dollars per Kilowatt-Hour, at December 2021 prices. In the first places are Cuba, Argentina and Paraguay as the countries with the cheapest electricity in Latin America.

While in Europe they suffer

On the other side of the Atlantic, the European Union is suffering one of the biggest escalations in electricity prices in recent decades. Germany has the fourth highest tariff in the world, followed by the Netherlands, the United Kingdom, Spain and Belgium.

The Old Continent is willing to make drastic changes in the policies that govern the energy market, in the midst of a gas shortage crisis caused by the low supply from Russia, in the midst of the war against Ukraine.

The German chancellor announced on Tuesday that he wants a reform of the electricity market applicable in his country “from this winter”, to help lower prices and reduce profits in the sector, while the issue is debated at Union level European.

The reform desired by Berlin is proposed “in coordination” with the EU and must be “implemented at great speed from this winter”, Olaf Scholz stressed in a speech to German company bosses.

“It is inconceivable that those who produce electricity with wind, solar or coal power get additional benefits because the price is determined based on the electricity produced with gas,” he added.

In the European market, it is the cost price of the last source of electricity mobilized to meet demand – often gas plants – that determines the price imposed on all operators on the continent.

All countries have access to the same oil prices on international markets, but different taxes are imposed. As a result, gasoline prices are different.

With information from AFP and Global Petrol Prices.